Skip Navigation LinksNews

All news

IFP used for Employment Expense Planning

June 20, 2009

In many organisations, one of the most complex and time-consuming parts of the planning process is the planning of employment related expenses. Normally, this is the responsibility of H.R. departments and planning is executed by employee for each relevant account and cost centre. The Portugal subsidiary of a major global pharmaceuticals corporation implemented an IFP solution to support this process and the links to the planning of other P&L expenses.

This solution includes the following:

  • IFP database organised by company, cost centre, account and employee
  • Simple import of monthly actual data from files created by local payroll accounting system
  • Powerful editor for monthly forecast amounts at any level of detail
  • Models for automatic application of relationships between accounts e.g. social charges and salaries
  • Database held in secure location to maintain confidentiality of data
  • Many reports for analysing variances between actual and forecast data
  • Easy export of consolidated data by company, cost centre and account to main IFP P&L database to provide significant savings of time and resources at busy times in the planning process
Watch a video about Employment Expense Planning in IFP:

 

Employment Expense Modelling in IFP video